Vegan Protein Blend Market Set for Explosive Growth: Anticipated 9% CAGR by 2031: Reed Intelligence

Vegan Protein Blend Market Size, Share & Trends Analysis Report by Type (Peas, Brown Rice, Hemp) by Application (B2B- B2B, B2C- B2C) and Segment Forecasts, 2023-2031

New York, United States, Nov. 29, 2023 (GLOBE NEWSWIRE) -- According to Reed Intelligence, “The global vegan protein blend market size is expected to grow at a CAGR of 9% from 2023 to 2030.” This growth is being driven by the increasing popularity of veganism, the growing demand for plant-based protein sources, and the increasing awareness of the health benefits of vegan protein.

Vegan Protein Blend Market Overview

Vegan protein blends are a type of plant-based protein powder that is made from a combination of different plant sources, such as peas, brown rice, and hemp. They are a good source of protein, fiber, and other nutrients, and they are a popular choice for vegans and vegetarians.

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Key Market Drivers

  • Increasing Popularity of Veganism: The number of people who are adopting a vegan lifestyle is on the rise. This is due to a number of factors, including ethical concerns about animal welfare, environmental concerns about the sustainability of animal agriculture, and health concerns about the consumption of animal products.
  • Growing Demand for Plant-Based Protein Sources: Consumers are increasingly looking for plant-based alternatives to animal-based protein sources. This is because plant-based protein sources are often lower in calories and fat than animal-based protein sources, and they may also offer other health benefits.
  • Increasing Awareness of the Health Benefits of Vegan Protein: Vegan protein has been shown to have a number of health benefits, including reducing the risk of heart disease, cancer, and type 2 diabetes.

Market Restraints

  • High Cost of Vegan Protein Blends: Vegan protein blends are often more expensive than animal-based protein powders. This is because they are more complex to produce and because there is a limited supply of high-quality vegan protein sources.
  • Taste and Texture Issues: Some vegan protein blends can have a chalky or unpleasant taste, and they may also have a gritty texture. This can make them less appealing to some consumers.

Market Opportunities

  • Product Innovation: Manufacturers are developing new and innovative vegan protein blends that are more affordable, have a better taste and texture, and offer additional health benefits. This is creating new opportunities for growth in the market.
  • Expansion into New Markets: Vegan protein blends are still a relatively new product category, and there is a lot of untapped potential in new markets, such as Asia and Latin America.

Regional Analysis

North America currently holds the largest market share for vegan protein blends, followed closely by Europe. However, Asia Pacific is anticipated to emerge as the fastest-growing market in the coming years, driven by the burgeoning vegan population and increasing disposable incomes in the region.

Key Players

  1. Optimum Nutrition, Inc
  2. Myprotein
  3. All Naturals
  4. True Protein Pty Ltd
  5. Tone It Up
  6. Orgain, Inc
  7. Revere
  8. Garden Of Life
  9. Your Super
  10. Nuzest
  11. Pure Encapsulations, LLC
  12. Vega
  13. Sakara Life
  14. GNC Holdings, Inc
  15. AMCO Proteins
  16. Aloha Organic
  17. Designer Protein, LLC
  18. MuscleBlaze
  19. Glanbia Performance Nutrition, Inc
  20. Bodylogix
  21. MuscleTech
  22. Plnt Protein
  23. Nutrimed Healthcare Private Limited
  24. CHK Industries Private Limited
  25. Health Warrior

Vegan Protein Blend Market Segmentations

Segment by Type

  • Peas
  • Brown Rice
  • Hemp

Segment by Application

  • B2B- B2B
  • B2C- B2C

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About Reed Intelligence

A global market research and management consulting firm, Reed Intelligence serves businesses, non-profit organisations, educational institutions, and governmental organisations. Our objective is to collaborate with enterprises to achieve long-term strategic improvements and expansion targets. Our industry research papers are made to offer quantitative data together with significant industry insights. Our goal is to give our clients the information they need to achieve long-term organisational growth. We offer reports to expedite and improve the plans of our clients, whether they are looking to expand into new areas, create new solutions, or take advantage of niche growth prospects.

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